It could be worse.
I'd rather make phone calls and actually see some value in my $30/month data plan (AT&T, I'm looking at you) than have a iPod touch made of glass with the latest OS update. Sure we are missing some features, but the phone works. If you had the fantastically horrible AT&T service on my 3GS, you'd be happy with your iPhone on Verizon now.
You could go over to Android where you just don't even know if you will be getting the next big OS upgrade. Gingerbread? Some users are still waiting for Froyo! Imagine if WWDC concluded with Jobs saying, "iOS 5 will be available in the fall for certain handsets." And in the fall, it is announced that it will be only on the upcoming iPhone 5. A few months after the iP5 release, it only goes out to AT&T iPhone 4 users, but they only release 5,000 updates on day one, 10,000 updates on day 2 and so on. Then 1/2yr later, 3GS users go through the same thing. And a year later, people are talking about iOS 6 and you're still running iOS 4 on your ViP. Then as iOS 6 is about to be released, you get iOS 5 and it bogs your phone down. How'd you feel then?